D Orazio & Associates Inc. Takes Position in Resolute Forest Products Inc. (NYSE:RFP)

D Orazio & Associates Inc. acquired a new position in Resolute Forest Products Inc. (NYSE:RFP) (TSE:RFP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,506 shares of the basic materials company’s stock, valued at approximately $30,000.

Other large investors have also recently made changes to their positions in the company. Royal Bank of Canada grew its stake in Resolute Forest Products by 116.4% in the second quarter. Royal Bank of Canada now owns 2,389 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 1,285 shares in the last quarter. Citigroup Inc. lifted its holdings in Resolute Forest Products by 341,900.0% during the third quarter. Citigroup Inc. now owns 3,420 shares of the basic materials company’s stock worth $41,000 after buying an additional 3,419 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Resolute Forest Products by 160.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,085 shares of the basic materials company’s stock valued at $50,000 after purchasing an additional 2,515 shares during the last quarter. Founders Capital Management lifted its holdings in shares of Resolute Forest Products by 80.0% during the 3rd quarter. Founders Capital Management now owns 4,500 shares of the basic materials company’s stock valued at $54,000 after purchasing an additional 2,000 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Resolute Forest Products by 976.8% in the 3rd quarter. New York State Common Retirement Fund now owns 8,614 shares of the basic materials company’s stock valued at $103,000 after acquiring an additional 7,814 shares during the period. 85.68% of the stock is currently owned by institutional investors.

RFP has been the topic of several research reports. CIBC raised Resolute Forest Products from a “neutral” rating to an “outperform” rating and upped their target price for the company from $14.00 to $19.00 in a research report on Monday, January 10th. Royal Bank of Canada dropped their target price on Resolute Forest Products from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, November 5th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $16.00.

NYSE:RFP opened at $16.05 on Friday. The stock has a market capitalization of $1.25 billion, a PE ratio of 3.37 and a beta of 3.04. Resolute Forest Products Inc. has a 52 week low of $7.20 and a 52 week high of $17.65. The stock’s 50-day moving average price is $13.09 and its 200-day moving average price is $12.39. The company has a quick ratio of 1.15, a current ratio of 2.29 and a debt-to-equity ratio of 0.20.

Resolute Forest Products (NYSE:RFP) (TSE:RFP) last issued its quarterly earnings results on Thursday, November 4th. The basic materials company reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.03). The company had revenue of $817.00 million during the quarter. Resolute Forest Products had a net margin of 10.64% and a return on equity of 41.48%.

Resolute Forest Products Profile

Resolute Forest Products, Inc engages in the production and sale of forest products. It operates through the following segments: Market Pulp, Tissue, Wood Products, Newsprint, Specialty Papers, and Corporate and Other. The company was founded on January 25, 2007 and is headquartered in Montreal, Canada.

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Institutional Ownership by Quarter for Resolute Forest Products (NYSE:RFP)

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